Mumbai: The Securities and Exchange Board of India (SEBI) extended the ban on futures trading in agricultural commodities until 20 December 2024. Futures trading in seven commodities — non-basmati paddy, wheat, chana, mustard seed and its derivatives, soybean and its derivatives, crude palm oil and moong (green gram) are banned. The decision was taken to curb food inflation in the country.
The SEBI first imposed the ban in 2021. The ban was extended for another year until December 20, 2023.
Also Read: Asian Para Games 2023: India’s medal tally crosses historic 100- mark
India is the major producer of wheat and rice. India is also the largest importer of vegetable oils. India fills nearly two-thirds of its edible oil requirements through imports, which incurred a record cost of $20.8 billion in the 2022/23 financial year ended on March 31.
Post Your Comments